Morton Community Bank Has $336,000 Stake in QUALCOMM Incorporated (NASDAQ:QCOM)

Morton Community Bank decreased its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 23.3% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 1,975 shares of the wireless technology company’s stock after selling 600 shares during the period. Morton Community Bank’s holdings in QUALCOMM were worth $336,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in QCOM. Reston Wealth Management LLC acquired a new position in QUALCOMM in the third quarter valued at about $26,000. HWG Holdings LP acquired a new stake in shares of QUALCOMM during the second quarter worth about $30,000. Financial Connections Group Inc. acquired a new stake in shares of QUALCOMM during the second quarter worth about $32,000. Planning Capital Management Corp raised its position in shares of QUALCOMM by 137.3% during the third quarter. Planning Capital Management Corp now owns 197 shares of the wireless technology company’s stock worth $34,000 after purchasing an additional 114 shares during the period. Finally, Aspect Partners LLC raised its position in shares of QUALCOMM by 71.8% during the second quarter. Aspect Partners LLC now owns 177 shares of the wireless technology company’s stock worth $35,000 after purchasing an additional 74 shares during the period. Institutional investors and hedge funds own 74.35% of the company’s stock.

QUALCOMM Stock Performance

NASDAQ:QCOM opened at $158.53 on Friday. The stock has a market cap of $176.13 billion, a P/E ratio of 17.63, a PEG ratio of 2.67 and a beta of 1.28. The stock has a 50 day simple moving average of $166.64 and a 200 day simple moving average of $180.68. The company has a current ratio of 2.40, a quick ratio of 1.79 and a debt-to-equity ratio of 0.51. QUALCOMM Incorporated has a 1-year low of $127.49 and a 1-year high of $230.63.

QUALCOMM Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Thursday, December 5th will be issued a $0.85 dividend. The ex-dividend date is Thursday, December 5th. This represents a $3.40 annualized dividend and a yield of 2.14%. QUALCOMM’s dividend payout ratio is presently 37.82%.

Insider Buying and Selling at QUALCOMM

In other QUALCOMM news, CAO Neil Martin sold 1,304 shares of QUALCOMM stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $155.00, for a total value of $202,120.00. Following the completion of the transaction, the chief accounting officer now directly owns 94 shares of the company’s stock, valued at $14,570. The trade was a 93.28 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Akash J. Palkhiwala sold 3,000 shares of QUALCOMM stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $165.95, for a total value of $497,850.00. Following the completion of the transaction, the chief financial officer now directly owns 51,437 shares of the company’s stock, valued at $8,535,970.15. This represents a 5.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 17,450 shares of company stock valued at $2,911,306 in the last three months. Corporate insiders own 0.08% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on QCOM. Wells Fargo & Company raised their price target on QUALCOMM from $170.00 to $175.00 and gave the stock an “underweight” rating in a research report on Thursday, November 7th. Citigroup dropped their target price on QUALCOMM from $200.00 to $185.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 16th. Morgan Stanley decreased their price target on QUALCOMM from $207.00 to $204.00 and set an “equal weight” rating for the company in a research note on Thursday, November 7th. UBS Group raised their price target on QUALCOMM from $185.00 to $190.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. Finally, Sanford C. Bernstein raised their price target on QUALCOMM from $200.00 to $215.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $210.15.

About QUALCOMM

QUALCOMM Incorporated engages in the development and commercialization of foundational technologies for the wireless industry worldwide. It operates through three segments: Qualcomm CDMA Technologies (QCT); Qualcomm Technology Licensing (QTL); and Qualcomm Strategic Initiatives (QSI). The QCT segment develops and supplies integrated circuits and system software based on 3G/4G/5G and other technologies for use in wireless voice and data communications, networking, computing, multimedia, and position location products.